Shares of SpiceJet rose 5% on June 12 after the Delhi bench of the National Company Law Tribunal Friday rejected former SpiceJet pilot Devesh Bbyan's plea to start insolvency proceedings against the airline.
Bbyan has filed a claim for Rs 1.7 crore towards unpaid employment dues for March 2020 to August 2022. The bench of judicial member Mahendra Khandelwal and technical member Anu Jagmohan said Bbyan's plea stood "dismissed".
Oil prices slumped to two-month lows on expectations of an impending agreement, which further boosted the bullish sentiment towards the airline stock. Brent crude futures dropped 1.8% at $88.76 per barrel, having fallen nearly 3% overnight.
At 11:35 am on June 12, SpiceJet shares were trading 4.95% higher at Rs 12.08 apiece.
U.S. President Donald Trump said on Thursday that a peace deal could be signed as soon as this weekend, hours after threatening more strikes on Iran. He said negotiations with Tehran had advanced to the highest levels of Iran's leadership and had been approved by a broad coalition of regional powers.
Trump's remarks follow repeated bouts of optimism from the president that have failed to yield a deal, keeping markets on edge. In this case too, Iran countered that it had not reached a final decision on an agreement.
The deal, if confirmed, would be the most significant diplomatic breakthrough yet to end the three-month-old war, which sent global energy prices sharply higher. The European Central Bank had to raise interest rates for the first time in nearly three years on Thursday to nip war-...
12/06/2026 Moneycontrol
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